NEW YORK—Wisdom, a smart home company focused on helping older adults live independently at home, announced a $315,000 social-impact investment from the Richard King Mellon Foundation to help advance platform development and support real-world deployment of its smart home system. This investment adds to $925,000 in previously unannounced pre-seed financing from crowdfunding and angel investors, bringing the total raised to more than $1.3 million.
The smart home system is powered by ambient sensing and edge artificial intelligence technology and designed for aging in place.
Wisdom's mission is to help older adults live safely and confidently at home, without the need for a traditional medical alert device or interaction with technology. Wisdom uses private, sensor-based technology to identify falls, detect changes in activity, alert caregivers and family members and escalate to emergency services when help may be needed.
“For professional homecare companies, Wisdom provides data that supports communications with families and improved overall care. The investment from the Richard King Mellon Foundation will accelerate our momentum refining and delivering a comprehensive solution not currently found on the market today," said Cathy Minter, co-founder and CEO of Wisdom.